Dar reaffirms GSP+ as cornerstone of Pakistan’s trade ties with European Union

Deputy Prime Minister and Foreign Minister Ishaq Dar on Friday underscored the importance of the European Union’s Generalised Scheme of Preferences Plus, describing it as a key instrument for strengthening mutually beneficial trade between Pakistan and the EU.

According to a statement shared by the Foreign Office on X, Dar chaired a high level inter ministerial meeting focused on advancing Pakistan’s economic and trade engagement with the European bloc. He stressed the need to expand trade cooperation, identify new avenues for economic collaboration and further deepen bilateral economic relations.

The foreign minister highlighted that GSP Plus continues to provide a critical framework for Pakistan’s trade growth with Europe and said the country must work to fully utilise the scheme’s potential to support economic development.

The EU’s GSP Plus arrangement grants developing countries preferential access to European markets in return for commitments to sustainable development and good governance. Countries benefiting from the scheme are required to implement 27 international conventions covering areas such as human rights, labour standards, environmental protection and governance. In return, the EU eliminates import duties on more than two thirds of its tariff lines. Pakistan is currently among eight countries availing the facility.

The meeting was attended by the federal minister for commerce, Special Assistant to the Prime Minister Tariq Bajwa, Foreign Secretary Amna Baloch and senior officials from relevant federal and provincial departments.

Separately, a day earlier, Prime Minister Shehbaz Sharif met EU Ambassador to Pakistan Raimundas Karoblis at the Prime Minister’s House, where he reiterated Pakistan’s commitment to working closely with the EU to expand trade ties, particularly through the GSP Plus framework.